Quantifying the Macroeconomic Impact of COVID-19-Related School Closures through the Human Capital Channel
This paper uses a new measure of human capital, which distinguishes both quality and quantity components, to estimate the long-term effect of the COVID-19-related school closures on aggregate productivity through the human capital channel. Productivity losses build up over time and are estimated to...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2023-11-01
|
| Series: | Economies |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2227-7099/11/12/289 |
| _version_ | 1797381341349675008 |
|---|---|
| author | Christine de la Maisonneuve Balázs Égert David Turner |
| author_facet | Christine de la Maisonneuve Balázs Égert David Turner |
| author_sort | Christine de la Maisonneuve |
| collection | DOAJ |
| description | This paper uses a new measure of human capital, which distinguishes both quality and quantity components, to estimate the long-term effect of the COVID-19-related school closures on aggregate productivity through the human capital channel. Productivity losses build up over time and are estimated to range between 0.4% and 2.1% after 45 years, for 12 weeks and 2 years of school closure, respectively. These results appear to be broadly consistent with earlier findings in the literature. Two opposing effects might influence these estimates. Online teaching would lower economic costs while learning losses in tertiary education (not considered here) would inflate them. Policies aimed at improving the quality of education and adult training will be needed to offset or, at least, alleviate the impact of the pandemic on human capital. |
| first_indexed | 2024-03-08T20:51:00Z |
| format | Article |
| id | doaj.art-b3ef20bb2de846e89d278c515de6e272 |
| institution | Directory Open Access Journal |
| issn | 2227-7099 |
| language | English |
| last_indexed | 2024-03-08T20:51:00Z |
| publishDate | 2023-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Economies |
| spelling | doaj.art-b3ef20bb2de846e89d278c515de6e2722023-12-22T14:04:13ZengMDPI AGEconomies2227-70992023-11-01111228910.3390/economies11120289Quantifying the Macroeconomic Impact of COVID-19-Related School Closures through the Human Capital ChannelChristine de la Maisonneuve0Balázs Égert1David Turner2Economics Department, Organisation for Economic Co-Operation and Development (OECD), 75016 Paris, FranceEconomics Department, Organisation for Economic Co-Operation and Development (OECD), 75016 Paris, FranceEconomics Department, Organisation for Economic Co-Operation and Development (OECD), 75016 Paris, FranceThis paper uses a new measure of human capital, which distinguishes both quality and quantity components, to estimate the long-term effect of the COVID-19-related school closures on aggregate productivity through the human capital channel. Productivity losses build up over time and are estimated to range between 0.4% and 2.1% after 45 years, for 12 weeks and 2 years of school closure, respectively. These results appear to be broadly consistent with earlier findings in the literature. Two opposing effects might influence these estimates. Online teaching would lower economic costs while learning losses in tertiary education (not considered here) would inflate them. Policies aimed at improving the quality of education and adult training will be needed to offset or, at least, alleviate the impact of the pandemic on human capital.https://www.mdpi.com/2227-7099/11/12/289COVID-19human capitalPISAPIAACproductivityeducation policies |
| spellingShingle | Christine de la Maisonneuve Balázs Égert David Turner Quantifying the Macroeconomic Impact of COVID-19-Related School Closures through the Human Capital Channel Economies COVID-19 human capital PISA PIAAC productivity education policies |
| title | Quantifying the Macroeconomic Impact of COVID-19-Related School Closures through the Human Capital Channel |
| title_full | Quantifying the Macroeconomic Impact of COVID-19-Related School Closures through the Human Capital Channel |
| title_fullStr | Quantifying the Macroeconomic Impact of COVID-19-Related School Closures through the Human Capital Channel |
| title_full_unstemmed | Quantifying the Macroeconomic Impact of COVID-19-Related School Closures through the Human Capital Channel |
| title_short | Quantifying the Macroeconomic Impact of COVID-19-Related School Closures through the Human Capital Channel |
| title_sort | quantifying the macroeconomic impact of covid 19 related school closures through the human capital channel |
| topic | COVID-19 human capital PISA PIAAC productivity education policies |
| url | https://www.mdpi.com/2227-7099/11/12/289 |
| work_keys_str_mv | AT christinedelamaisonneuve quantifyingthemacroeconomicimpactofcovid19relatedschoolclosuresthroughthehumancapitalchannel AT balazsegert quantifyingthemacroeconomicimpactofcovid19relatedschoolclosuresthroughthehumancapitalchannel AT davidturner quantifyingthemacroeconomicimpactofcovid19relatedschoolclosuresthroughthehumancapitalchannel |